Medtronic plc (NYSE:MDT) Stock Position Raised by Quarry LP

Quarry LP boosted its stake in shares of Medtronic plc (NYSE:MDT) by 24.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,894 shares of the medical technology company’s stock after buying an additional 1,551 shares during the period. Quarry LP’s holdings in Medtronic were worth $631,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MDT. Shorepoint Capital Partners LLC grew its position in Medtronic by 2.1% during the fourth quarter. Shorepoint Capital Partners LLC now owns 34,697 shares of the medical technology company’s stock valued at $2,772,000 after purchasing an additional 707 shares in the last quarter. Oxford Asset Management LLP increased its holdings in Medtronic by 70.1% in the fourth quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company’s stock worth $594,000 after buying an additional 3,068 shares during the last quarter. Boothbay Fund Management LLC raised its position in Medtronic by 2,439.1% during the fourth quarter. Boothbay Fund Management LLC now owns 77,571 shares of the medical technology company’s stock valued at $6,196,000 after acquiring an additional 74,516 shares in the last quarter. Capital Analysts LLC lifted its stake in Medtronic by 2.7% in the fourth quarter. Capital Analysts LLC now owns 121,300 shares of the medical technology company’s stock valued at $9,690,000 after acquiring an additional 3,180 shares during the last quarter. Finally, New Vernon Investment Management LLC grew its position in Medtronic by 304.9% in the fourth quarter. New Vernon Investment Management LLC now owns 29,613 shares of the medical technology company’s stock worth $2,425,000 after acquiring an additional 22,300 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MDT shares. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Truist Financial lowered their price objective on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, April 11th. UBS Group boosted their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Robert W. Baird increased their price target on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $96.14.

Medtronic Stock Performance

NYSE MDT opened at $84.19 on Friday. The company’s fifty day moving average is $88.14 and its two-hundred day moving average is $87.26. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a market capitalization of $107.98 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Equities research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.33%. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.